Shares of Applied Genetic Technologies Corporation (NASDAQ:AGTC) have earned an average rating of “Buy” from the ten brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $11.63.

A number of equities research analysts recently issued reports on AGTC shares. HC Wainwright set a $16.00 price target on Applied Genetic Technologies Corporation and gave the stock a “buy” rating in a research note on Saturday, June 10th. Stifel Nicolaus decreased their price target on Applied Genetic Technologies Corporation from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday. ValuEngine lowered Applied Genetic Technologies Corporation from a “hold” rating to a “sell” rating in a research note on Friday. BMO Capital Markets reissued an “outperform” rating and set a $7.00 price target (down from $14.00) on shares of Applied Genetic Technologies Corporation in a research note on Thursday. Finally, Cantor Fitzgerald decreased their price target on Applied Genetic Technologies Corporation from $15.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday.

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A number of hedge funds and other institutional investors have recently modified their holdings of AGTC. Trexquant Investment LP raised its position in Applied Genetic Technologies Corporation by 3.2% during the 2nd quarter. Trexquant Investment LP now owns 20,000 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 611 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Applied Genetic Technologies Corporation during the 1st quarter valued at $123,000. Wells Fargo & Company MN raised its position in Applied Genetic Technologies Corporation by 1.1% during the 1st quarter. Wells Fargo & Company MN now owns 19,005 shares of the biotechnology company’s stock valued at $131,000 after purchasing an additional 200 shares in the last quarter. Virtu KCG Holdings LLC bought a new stake in Applied Genetic Technologies Corporation during the 2nd quarter valued at $178,000. Finally, Credit Suisse AG raised its position in Applied Genetic Technologies Corporation by 10.9% during the 1st quarter. Credit Suisse AG now owns 27,110 shares of the biotechnology company’s stock valued at $187,000 after purchasing an additional 2,662 shares in the last quarter. 54.75% of the stock is owned by institutional investors and hedge funds.

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Applied Genetic Technologies Corporation (NASDAQ:AGTC) traded down 4.05% during trading on Wednesday, hitting $3.55. The stock had a trading volume of 493,506 shares. The stock has a market cap of $64.17 million, a price-to-earnings ratio of 8.47 and a beta of 1.68. The stock has a 50 day moving average price of $4.68 and a 200-day moving average price of $5.59. Applied Genetic Technologies Corporation has a 12 month low of $3.50 and a 12 month high of $10.85.

Applied Genetic Technologies Corporation (NASDAQ:AGTC) last posted its quarterly earnings data on Wednesday, September 13th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.40). The company had revenue of $8.30 million during the quarter, compared to the consensus estimate of $12.39 million. Applied Genetic Technologies Corporation had a net margin of 4.28% and a return on equity of 1.45%. Applied Genetic Technologies Corporation’s revenue for the quarter was down 31.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.15 earnings per share. On average, equities analysts predict that Applied Genetic Technologies Corporation will post ($0.63) EPS for the current year.

About Applied Genetic Technologies Corporation

Applied Genetic Technologies Corporation is a clinical-stage biotechnology company. The Company develops gene therapy products designed to manage the lives of patients with severe diseases in ophthalmology. As of March 31, 2016, its product candidates included treatments for X-linked retinoschisis (XLRS), over two forms of achromatopsia (ACHM) and X-linked retinitis pigmentosa (XLRP).